How can you pay with a cryptocurrency to buy a car?

6 June 2018

We make money to spend it for the things we like or need, and, while cryptocurrencies are most generally identified as digital assets, people still treat them as a form of money similar to plastic cards or paper checks. On this account many cryptocurrency holders look for spending their coins for some tangible asset apart from taking part in the market trading of tokens and cryptos. This is our selection of some car dealers allowing customers to purchase vehicles for cryptocurrencies.

Lamborghini Newport Beach

This dealership, being the only Lamborghini factory authorized dealer in Orange County, California, proudly markets itself as a dealer accepting Bitcoin. Customers may make a call to the firm or come to visit their showroom.

In 2013 the dealership sold its first car for Bitcoin to a man from Florida. The car, Tesla Model S, was sold at a price of 91.4 BTC worth of $103 thousand at the exchange rate of that time.

In the autumn 2017, the dealership sold 2015 Lamborghini Huracan model, valued at $200,000, to Peter Saddington at a price of 45 BTC. Saddington told that at early inception of Bitcoin he was lucky to purchase 45 coins for less than $115.

Sam Pack’s Five Star Ford

Sam Pack’s Ford dealership is located in Carrollton, Dallas, and offers a wide range of vehicles and spare parts for various cars and trucks, including Ford Explorer, Focus, Fiesta, Fusion, Mustang, Edge, F-150, Escape and more. Customers may buy both new vehicles and certified and non-certified pre-owned vehicles paying with Bitcoin. Certified Ford vehicles come with 7 year/100,000 mile powertrain warranty and 24/7 Roadside Assistance.

BuySellCarWithBitcoin.com

Buy Sell Car With Bitcoin is a website offering its members to sell and buy cars for Bitcoin, where the deals are closed in person between the parties. Besides, the website says that customers may find some car dealers, which offer sales of vehicles for Bitcoin. Thus, if you look for some pre-owned car, you may buy Aston Martin V8 Vantage manual, 2006, silver with red leather, 87,000 miles at a price of 4.6552 BTC.

L’Operaio

This Japanese car dealer announced the partnership in March 2018 with bitFlyer, the largest cryptocurrency exchange in Japan, over enabling acceptance of Bitcoin for payments for vehicles. In order to purchase a car, users will have to download bitFlyer’s mobile wallet app run both on iOS and Android devices, and make purchases under $1 million using BTC. The transaction is promised to take just a few seconds.

Reed Jeep Chrysler Dodge Ram

Reed Jeep Chrysler Dodge Ram is a dealership in Overland Park, Kansas, offers sales of such cars as Jeep, RAM, Chrysler and Dodge across Overland Park, Kansas City, Leawood, Shawnee and Olathe. Apart from new vehicles the dealership also offers pre-owned cars at a budget price. The dealership accepts a wide range of payment options, including PayPal and Bitcoin.

Tomcar

Tomcar, an Australian manufacturer of off-road utility vehicles, in 2013 started accepting Bitcoin as a payment method for the produced cars, claiming to be the first vendor to accept the cryptocurrency. The transactions are processed through CoinJar service, a local platform for selling, buying and spending Bitcoin.

The prices for the cars are established based on the current rate of Bitcoin in real time and further reconciled by CoinJar. CoinJar transfers the funds to the bank account of a business owner and charges a 1% fee from the amount transferred.

Initially, Tomcar manufactured its vehicles for the military forces of Israel, but at the moment the cars are widely sold both to military and commercial customers for various purposes, including tourism and rescue operations.

Wikispeed

Wikispeed, a maker of environment-friendly modular design cars, which debuted in 2011 at the North American International Auto Show (NAIAS) in Detroit, Michigan, is located in Seattle, Washington. In July 2012 the company made an announcement that it will start accepting Bitcoin as a payment for cars.